Connect to today’s credit, economy and business finance news from Charter Capital. Get breaking news, updates and reporting on industry news providing small businesses with up-to-date financial information and resources.
Retail Sales Jump 1.4% in October on Strength in Autos
Retail sales jumped 1.4% in October, fueled largely by a rebound in auto sales, the Commerce Department reported. Excluding autos, retail sales grew a more modest 0.2%, following a 0.4% increase in September. Auto sales climbed 7.4% in October, following a 14.3% drop in September. The September drop followed a surge in August when consumers took advantage of the government’s Cash for Clunkers program.
October sales outside of autos indicate that consumers are still cautious about spending large amounts of discretionary dollars. Sales at general merchandise chains – a category that includes Walmart and Target – grew 0.8%. Other sectors showing gains included health & personal care (0.5%), apparel stores (0.4%), department stores (0.3%) and grocery stores (0.2%). Sectors posting declines included building materials (2.4%), sporting goods (1.2%), furniture stores (0.8%), and electronics and appliance stores (0.6%). Sales at gasoline stations were flat. While there are signs that consumers are feeling more comfortable about spending, high unemployment, tight credit and stagnant incomes will likely prevent the type of splurging that retailers would like to see during the holiday season.
Return to:
Factoring, Credit and Economy News
Date Last Updated: 11/19/2009
News Feeds
-Charter Capital Factoring Blog on MerchantCircle
- Factoring Accounts Receivable Blog
- Factoring My Invoices Blog
- Small Business and Invoice Factoring News Blog
- Small Business Factoring and Financial News Blog
- Invoice Factoring and Accounts Receivable Financing Blog
- Accounts Receivables Factoring Blog
|
 |
